The Global Floor Coatings Market is projected to grow at a CAGR of 6.2% in the forecast period of 2022-27, cites MarkNtel Advisors in their recent research report. The growing focus of governments of different countries on infrastructural developments, i.e., portraying active establishments & expansion of industries & residential sectors, alongside a rise in construction activities, is the prime aspect projected to drive the Global Floor Coatings Market during 2022-27.
It, in turn, is augmenting the demand for floor coatings to protect surfaces and instigating companies to increase their production & distribution capacities to cater to their burgeoning needs worldwide. Besides, the increasing number of construction activities, especially across countries like China, India, the US, the UK, Saudi Arabia, and the UAE, among others, are further anticipated to generate lucrative opportunities for the leading players operating in the global market, further states the research report, “Global Floor Coatings Market Analysis, 2022.”
Rise in Green Building & Smart City Constructions are Driving the Market across the Residential Sector
The growing focus of governments across different countries on developing the residential sector to habitat the exponentially rising population worldwide is displaying numerous ongoing construction projects, including smart cities & green buildings, thereby surging the demand for floor coatings. Besides, as the economic conditions of more and more people are improving, they are increasingly inclining toward home renovations, i.e., another prominent aspect infusing the demand for these coatings. Hence, these aspects are playing a notable role in augmenting the growth of the Global Floor Coatings Market across the residential sector.
Rising Industrialization across Asia-Pacific to Devise Lucrative Prospects for the Floor Coatings Market
The massive industrial sectors across different countries in Asia-Pacific, where the manufacturing sector is becoming a global hub, are demonstrating the establishment of numerous industries across the region. As a result, there's a significantly surging demand for floor coatings, i.e., driving the regional market. In addition, several ongoing construction activities, especially across China, also indicate burgeoning requirements for these coatings to boost the building characteristics. Hence, these factors are set to curate lucrative prospects for the Asia-Pacific Floor Coatings Market in the years ahead.
The major companies in the Global Floor Coatings Market include 3M, Akzo Nobel N.V., Axalta Coating System, Arkema S.A., Asian Paints Ltd., Ardex Endura, Apurva India Ltd., A & I Coatings, BASF SE, Berger Paints India Ltd., Dr. Cipy- Specialized Floor Coatings, DUPONT, Flowcrete Pvt. Ltd., Grand Polycoats Company Pvt. Ltd, Indigo Paints, Jemkon Pvt. Ltd., Kansai Nerolac Paints Ltd., Key Resin Company, Lubrizol, Milliken & Company, Michelman Inc., PPG Industries, Inc., RPM International, Inc., SIKA Industries Ltd., Sherwin-Williams Company, and Steward Advanced Floors Inc.
Key Questions Answered in the Research Report: